McCain studied economics at the Naval Academy. The basis of the curriculum is how to secure taxpayers money to support the dreams of the Admirals. Supply and demand were reduced to supply of the taxpayers income that can be collected and spent by the military-industrial complex.

8:11 pm September 25, 2008

Iceman wrote :

With all the intelligent people in Washington and New York they cant come up with a simple solution to this mess! Shame on you. Here is a simple solution: Use the $700bill and pay off half the mortgage amount of all defaulted and going into default loans. As a result the mortgage paper would sell at face value and we would not have a credit crunch. OOPs that would not help the greedy losers who started this mess.

8:35 pm September 25, 2008

TH wrote :

I'm a Wall Streeter who's given to Obama, but it has nothing to do with his policies on subprime mortgage securities. I think people need to stop confusing "Wall Street firms" with "people who work for Wall Street firms".

8:49 pm September 25, 2008

Liberty Valence wrote :

Obama studied economics at .... oh wait, he didn't study economics. He's a "political science" undergrad and a lawyer who's spent his life either trying to take money from taxpayers to give away or being paid by taxpayers. Maybe he can sue the economy out of a recession. Or better yet get Robert Rubin (Citibank ... $80B of rightdowns), Bob Johnson (Fannie Mae), or Raines (Fannia Mae) his crack eco team (economics or environmental ... doesn't matter) to solve the problems.

10:35 pm September 25, 2008

limbo wrote :

It's a bigger deal then the Keating 5. Very similiar. Except McCain was involved it that and Obama wasn't. Sounds to me we know who to trust. And it's not the same old politics candidate. John's past is coming back to haunt him. He knows nothing about economics. Even if he studied it. He admittedly said he doesn't know it very well. He sure has proven that the last couple of weeks.

11:13 pm September 25, 2008

Irving Trust wrote :

Wall Street is heavily Democratic and Liberal while the mainstream are led to believe that the Wall Street bankers are all Republicans.
circa Mario Cuomo's key note adress at the DNC in 1984.
Democrats like to trade long and short and Obama is perceived to be good for trading.
Uncertainty is lucrative
for Wall Street while his policies are unstable for Main Street.

11:56 pm September 25, 2008

Republican, but not proud of them wrote :

I fell like I am watching my country go down the drain. McCain, the charter member of the Keating 5, is trying to solve a problem set up by his chief advisors (Phil Gramm)the high priest of deregulation and repeal of Glass Steagle. God this would make a great movie, but it is really bad governance. We desperately need a real leader and there are absolutely none being offered to us. How do we convince Colin Powell to stand up and let us elect him?

12:01 am September 26, 2008

Linda wrote :

McCain and his need for a political stunt derailed the agreement that was almost reached on Thursday, I would bet when an agreement happens on Friday, he is going to claim he engineered it, the house republican's have been planning this ever since McCain decided to pull this political stunt. The greed and hubris of this man is unbelievable.

2:35 am September 26, 2008

Foreign Banker wrote :

McCain's campaign is in trouble so he tries to kick a fuss to revive it. That does not look very stateman like to me. Neverthless, considering his age maybe he can throw some light on the current crisis by refereing to his experience from 1929...

To Iceman: not sure I understand what you mean, if you pay half the defaulted mortgage, you pay this to the banks, so that is very much was is suggested in the plan in essence.

2:54 am September 26, 2008

Kay wrote :

I'm quite disgusted that Friday the Dow will only shave off maybe 250 points. Its like this game is rigged to benefit someone - an I think its Obama, because bad negative vibes feed the mental need to be taken care of and who better to do that then democrats?

I think this is why China and other SIVs haven't cashed in treasuries - because they are all socialist or non-democratic in structure.

There are republicans and then there are republicans. I'm proud of Shelby and Boehner to say no to Pelosi and Franks and Reid as well as Paulson and Bush.

8:51 am September 26, 2008

Paulson is a good investment wrote :

No campaign contribution and a $700B return. Not bad.

8:53 am September 26, 2008

George Lomnycky wrote :

If Wall street demands a "return" on its investment in political contributions it should stick to the more customary methods of bribing government officials in third world countries to obtain special favors. Money "donated" to obtain preferential, the-public(and country)-be-damned political favors is merely a very thinly disguised bribe.

2:00 pm September 26, 2008

BeatCal wrote :

Heidi, is there any evidence that Corporate America supports the GOP? A majority of contributions from investment banks and hedge funds went to BO, according to FEC filings. Also, I'd be willing to bet that VP level contributions of Fortune 500 employees donated a majority to BO. I don't dispute that small business presidents overwhelmingly support the GOP, however. For some reason, they continue to vote Republican, even though they would be better of following the lead of their big business cousins.

2:43 pm September 29, 2008

Jay wrote :

Iceman you are soooo right.

7:15 am November 8, 2008

Ted R Bayes wrote :

It amazes me how Down rite se;lf serving our politicians are.When considering capitol gains.They do not consider when they tax industry they take investment capitol away. This results in lower manufacturing opertunities, and loss of income to the working force. If the capitol were left as investments to improve production,mand more capitol to the worker . T%he tax gain would far grater than the measley capitol gains tehy7 recieve under existing tax laws

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